Daikin Industries, the world’s largest manufacturer of air conditioners, is looking to expand in India, as the company seeks to capitalise on consumer demand for something that has become a necessity as temperatures rise.
The Japanese company has signed a letter of intent to acquire an additional 13.4 hectares (33 acres) to build a new manufacturing plant near its current factory in southern India, Daikin India CEO Kanwal Jeet Jawa said last week from the company’s headquarters in Osaka.
“About 93% of the people in India still don’t have air conditioners and that is the future market for us,” he said.
